Home EUR/USD could reach another high soon before falling, EUR/JPY
EUR/USD Daily, Forex News Today: Daily Trading News

EUR/USD could reach another high soon before falling, EUR/JPY

The USD did not move much yesterday, so for now we see no changes on EURUSD. The price could still make another high soon, to complete a five wave move within a fifth wave. That said, a reversal down from the new high could follow in the sessions ahead, especially if stocks continue higher.

EURUSD 1h Elliott Wave Analysis

EURUSD Elliott Wave Analysis May 15 2015 technical chart

EURJPY has been bullish in the last two months, same as EURUSD, but this could come to an end in the coming days or weeks, because we can count five waves up on the 4h chart of EURJPY. Besides, we also see a decreasing bullish momentum on the RSI, while the price can be forming a wedge pattern in the fifth wave. This refers to an ending diagonal in Elliot Wave Theory which can cause a bearish turning point, possibly from around 137. If we are correct, then EUR gains are limited.

EURJPY 4h Elliott Wave Analysis

EURJPY Elliott Wave Analysis May 15 2015 technical chart

Gregor Horvat

Gregor Horvat

Grega Horvat Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of Ew-Forecast, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At Ew-forecast he helps clients and educates them about the Elliott wave principle and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty, however, is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators. EW-Forecast To be involved in the market effectively, you need the right guidance and resources, and our team can help you to achieve that. Our team is providing advanced informations about Elliott Wave theory in real time. The Elliott Wave Principle gives you a method for identifying the behavior of the markets and at what points the market is most likely to turn. We help new traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our views as simple as possible with educational goal, because knowledge itself is power!